Weatherford International (NASDAQ:WFRD) Downgraded to “Buy” Rating by Wall Street Zen

Weatherford International (NASDAQ:WFRD) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other brokerages have also commented on WFRD. Zacks Research upgraded Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. UBS Group raised their price target on Weatherford International from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Piper Sandler increased their price objective on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Barclays decreased their target price on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.56.

Weatherford International Stock Up 2.1%

Shares of WFRD opened at $94.58 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. Weatherford International has a 52 week low of $36.74 and a 52 week high of $110.57. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 15.95 and a beta of 0.78. The business’s fifty day moving average price is $96.14 and its two-hundred day moving average price is $81.64.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.49. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 earnings per share. On average, analysts predict that Weatherford International will post 5.89 earnings per share for the current year.

Insider Transactions at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its holdings in Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Weatherford International during the fourth quarter valued at about $26,000. Quent Capital LLC bought a new position in shares of Weatherford International during the 3rd quarter worth about $26,000. Leonteq Securities AG bought a new position in shares of Weatherford International during the 4th quarter worth about $39,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Weatherford International in the 3rd quarter valued at about $35,000. Institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.